Sell $600 or more on eBay? You're gonna need to report that to the IRS...

There's that magic number six again.

What, did you think that you didn’t have to report income to the IRS? Anyone who sells on eBay or anywhere else is required to pay taxes on the income derived from sales of merchandise, whether new items or personal belongings placed for sale.

How is this news?

No taxes are due on personal items. You paid the taxes when you bought them. If you sell for more than you paid (unlikely at a yard sale type environment) then you owe capital gains.

So basically anyone with more than $600 worth of yard sale stuff has to prove it isn't a side business. Fuck daddy.gov.

Because it's stupid and ridiculous. If I sell some personal things on eGay, that I bought and already paid taxes on, why should I have to pay more taxes on the same item? Double taxation?

fuck the IRS
I aint reporting shit to that scum
they hire paki's to collect and they don't even make house calls anymore

fuck those democrat feds

That’s sales tax. Reselling the item generates income, which is taxable under income tax laws..

Cod is fine atm its better then forza but both the same

Do you pay taxes when you return an item?

And this goes a step further.

The IRS is requiring ebay to report if you've sold over 600 worth of goods. Not you. Them.

Invasive and ridiculous. Probably hurts ebay's bottom line and will raise their rates.

They've actually tried lately especially with breaking it off from Paypal...

Lol

Wrong thread.

God of War and Elden Ring for goty.

I just sold about $1200 worth of knives on Ebay
and immediately bought a new AK

Taxed on both
How is that fair?

Yeah that's what is confusing... If you're paying a fee to even sell as well as taxes why do they need to triple dip?

We just can't make enough money in this country...

Keep paying up buddy

Daddy Gov, is that you?

87000 newly minted IRS agents....gotta earn that paycheck somehow!

Be good little libtards and pay your taxes.

Ukraine needs more money!

Wrong! Used items sold for less than what you paid for it is a loss, not income.

Yeah, I was fucking pissed had to give them my social in order for them to release my money to me. I am fucking done selling on Ebay.

False, asshole.

And neither time with representation. This is the kind of shit that will start a war.

They will continue to crackdown nowthat they are moving forward with digital currency.

You won't be able to spend or earn a dollar without the tax man knowing. They are moving forward so fast because they are winning. Each thing that the people let slide gives them more power and emboldens them. Just everyone stop using ebay because eBay sucks for trapping the people. Scam company ran by the new world order

How many times do thepeople need topaytax o used items lmao I buy it...PayPal. I sell it and pay more tax.

It's all corrupt

All the welfare people working a real job selling on ebay so pissed mad haha


Ya its hard when you don't cheat the system. Welcome to real world.

How do you expect billionaires to pay their fair share, that's why this was passed. Everyone knows billionaires launder money on ebay and $601 at a time.

Ok monarch sympathizer

Yes but only if it is a capital gain. If you buy a widget for $10 and later sell it for $10 or less, no taxes. If you sell it for $15, you'll owe capital gains tax on the $5 you made.

yeah, muh ukraine!

legally, if you find a $20 bill on the ground
it must be reported as unearned income
on your tax return

I fully intend to.

Enjoy ass-pound prison, skippy.